Q: I would like to get Unemployment payment protection insurance I presume that we could both apply for cover separately making two payments and both of us would be covered?
Also if we applied for redundancy cover basically to cover the mortgage would it come into effect immediately or do you have to wait for a few weeks?
A: If you were to both apply for mortgage payment protection insurance you would both be covered separately and pay two separate premiums. There will be an initial exclusion period on the unemployment part of the policy. If you were to lose your job or be made aware of losing your job within this time period then you would not be able to claim on the policy.